Predict the direction of change for either supply or demand in the following situations: (a) Several
Question: Predict the direction of change for either supply or demand in the following situations:
(a) Several new companies enter the home computer industry.
(b) Consumers suddenly decide large cars are unfashionable.
(c) The U.S. Surgeon General issues a report stating that tomatoes prevent colds.
(d) Frost threatens to damage the coffee crop, and consumers expect the price to rise sharply in the future.
(e) The price of tea falls. What is the effect on the coffee market?
(f) The price of sugar rises. What is the effect on the coffee market?
(g) A new type of robot is invented that will pick peaches.
(h) A computer game company anticipates that the future price of its games will fall much lower than the current price.
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Solution: The downloadable solution consists of 2 pages
Type of Deliverable: Word Document
Type of Deliverable: Word Document
